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Tue, 15 Sept 2026
07:03:27 am
Tue, 15 Sept 2026
07:03:27 am
Rudransh Sangwan
Published at: September 15, 2026, 4:50 AM
Synopsis
Jindal Supreme IPO GMP is ₹27, indicating an estimated ₹120 listing price at the ₹93 upper band. Check the IPO price, lot size, investment, dates, financials and valuation.
The Jindal Supreme IPO is a ₹124.88 crore book-built mainboard IPO comprising:
The Jindal Supreme IPO price band is fixed at ₹88 to ₹93 per share.
The lot size is 161 shares, with a minimum retail investment of ₹14,973 at the upper price band.
The shares are proposed to list on the BSE and NSE on September 23, 2026.
The latest Jindal Supreme IPO GMP is ₹27, updated on September 14, 2026, at 2:32 PM.
At the upper price band of ₹93, the estimated listing price is ₹120, indicating a potential gain of 29.03%.
The GMP has increased from ₹0 on September 8 to ₹27 currently.
It rose to ₹11 on September 9, ₹19 on September 10, ₹21 on September 11 and ₹25 on September 12 before reaching ₹27 on September 13.
| GMP Date | IPO Price | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|---|
| 14-Sep-2026 | ₹93 | ₹27 - | ₹120 (29.03%) | ₹4,347 | 14-Sep-2026 14:32 |
| 13-Sep-2026 | ₹93 | ₹27 ▲ | ₹120 (29.03%) | ₹4,347 | 13-Sep-2026 23:29 |
| 12-Sep-2026 | ₹93 | ₹25 ▲ | ₹118 (26.88%) | ₹4,025 | 12-Sep-2026 23:31 |
| 11-Sep-2026 | ₹93 | ₹21 ▲ | ₹114 (22.58%) | ₹3,381 | 11-Sep-2026 23:33 |
| 10-Sep-2026 | ₹93 | ₹19 ▲ | ₹112 (20.43%) | ₹3,059 | 10-Sep-2026 23:32 |
| 09-Sep-2026 | ₹93 | ₹11 ▲ | ₹104 (11.83%) | ₹1,771 | 9-Sep-2026 23:32 |
| 08-Sep-2026 | - | ₹0 - | - | - | 8-Sep-2026 14:40 |
Estimated profit/loss per lot = GMP × 161 shares.
Note: GMP is based on unofficial grey-market activity and is indicative only. It does not guarantee the actual listing price.
| IPO Metric | Details |
|---|---|
| IPO Dates | September 16 to September 18, 2026 |
| Price Band | ₹88 to ₹93 |
| Issue Price | ₹93 |
| Face Value | ₹10 per share |
| Lot Size | 161 Shares |
| Minimum Investment | ₹14,973 |
| Total Issue Size | ₹124.88 crore |
| Fresh Issue | ₹99.89 crore |
| Offer for Sale | ₹24.99 crore |
| Issue Type | Bookbuilding IPO |
| Sale Type | Fresh Capital cum OFS |
| Listing | BSE, NSE |
| Tentative Listing Date | September 23, 2026 |
| Market Cap at Upper Price | ₹474.52 crore |
The Jindal Supreme IPO will open on September 16 and close on September 18, 2026.
The IPO allotment is expected to be finalised on September 21.
Refunds and demat credit are scheduled for September 22, followed by the tentative listing on September 23.
| IPO Event | Date |
|---|---|
| IPO Open | September 16, 2026 |
| IPO Close | September 18, 2026 |
| Allotment | September 21, 2026 |
| Refund | September 22, 2026 |
| Credit of Shares | September 22, 2026 |
| Listing | September 23, 2026 |
The Jindal Supreme IPO lot size is 161 shares.
At the upper price band of ₹93, investors need ₹14,973 to apply for one lot.
Retail investors can apply for a maximum of 13 lots, while S-HNI and B-HNI investors have higher application limits.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 161 | ₹14,973 |
| Retail Maximum | 13 | 2,093 | ₹1,94,649 |
| S-HNI Minimum | 14 | 2,254 | ₹2,09,622 |
| S-HNI Maximum | 66 | 10,626 | ₹9,88,218 |
| B-HNI Minimum | 67 | 10,787 | ₹10,03,191 |
The Jindal Supreme IPO has reserved:
The IPO reservation provides the allocation structure for different investor categories.
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
Jindal Supreme (India) Ltd. was incorporated in March 1974.
It has been manufacturing and supplying steel pipes, tubes and other steel products for more than five decades.
Its products include:
The company primarily follows a B2B model, supplying institutional and industrial customers as well as dealers.
Its manufacturing facility is located in Hisar, Haryana, and is equipped with mills, welding and galvanizing plants, maintenance facilities and testing equipment.
As of June 30, 2026, the company had 53 dealers and 242 employees.
Jindal Supreme's traditional product portfolio includes steel pipes and tubes used in:
The company has also expanded into new infrastructure products.
It started manufacturing W-beam and Thrie-beam crash barriers in FY25 and entered the GI tubular poles segment in FY26, targeting street lighting, electrification and public utility projects.
The company plans to use ₹71 crore of the Jindal Supreme IPO proceeds towards repayment or prepayment, in full or in part, of certain outstanding borrowings.
The remaining proceeds are proposed to be used for general corporate purposes.
The IPO proceeds will therefore be primarily directed towards debt reduction and general corporate purposes.
| Issue Objects | Estimated Amount |
|---|---|
| Repayment/Pre-payment of Outstanding Borrowings | ₹71.00 Cr |
| General Corporate Purposes | - |
| Total | ₹71.00 Cr |
Jindal Supreme reported total income of ₹675.94 crore in FY26, compared with ₹604.74 crore in FY25.
However, PAT declined to ₹22.53 crore from ₹24.27 crore during the same period.
As of June 30, 2026:
The company's financials provide key information for investors evaluating its profitability and financial position.
| Particulars | Jun 30, 2026 | Mar 31, 2026 | Mar 31, 2025 | Mar 31, 2024 |
|---|---|---|---|---|
| Assets | ₹232.65 Cr | ₹248.41 Cr | ₹200.33 Cr | ₹181.16 Cr |
| Total Income | ₹191.09 Cr | ₹675.94 Cr | ₹604.74 Cr | ₹650.88 Cr |
| Profit After Tax | ₹8.28 Cr | ₹22.53 Cr | ₹24.27 Cr | ₹12.87 Cr |
| EBITDA | ₹13.76 Cr | ₹41.63 Cr | ₹25.92 Cr | ₹21.11 Cr |
| Net Worth | ₹105.02 Cr | ₹96.82 Cr | ₹74.64 Cr | ₹50.31 Cr |
| Reserves and Surplus | ₹64.56 Cr | ₹56.28 Cr | ₹72.17 Cr | ₹47.90 Cr |
| Total Borrowing | ₹92.46 Cr | ₹119.87 Cr | ₹95.84 Cr | ₹104.92 Cr |
At the upper price band of ₹93, the post-IPO market capitalisation is approximately ₹474.52 crore.
Based on the provided valuation data:
The P/E ratio is one of the key valuation measures investors can use when assessing an IPO.
The Jindal Supreme IPO valuation can be viewed through the following metrics.
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹5.59 | ₹6.49 |
| P/E | 16.64x | 14.33x |
| Market Cap at Offer Price | ₹374.63 Cr | ₹474.52 Cr |
The Jindal Supreme IPO key performance indicators provide information on profitability, returns and leverage.
The KPI figures below compare the company's performance as of June 30, 2026, with March 31, 2026.
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 8.20% | 26.28% |
| ROCE | 6.14% | 16.78% |
| Debt/Equity | 0.88 | 1.24 |
| RoNW | 8.20% | 26.28% |
| PAT Margin | 4.33% | 3.33% |
| EBITDA Margin | 7.20% | 6.16% |
| NAV | ₹26.07 | ₹24.04 |
| Price to Book Value | 3.57x | 3.87x |
The promoters of Jindal Supreme are Abhishek Jindal and Sonam Jindal.
Promoter and promoter group holding is expected to reduce from 100% before the IPO to 73.68% after the issue.
Public shareholding is expected to increase to 26.32% following the IPO.
The IPO shareholding structure after the issue is shown below.
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 73.68% |
| Public | - | 26.32% |
| Total | 100% | 100% |
The Jindal Supreme IPO OFS portion consists of 26,86,851 shares being sold by VVJ Enterprise Pvt. Ltd., a promoter entity.
The OFS is valued at approximately ₹24.99 crore at the upper price band.
The Offer for Sale forms part of the total issue structure.
| Selling Shareholder | Category | Shares Offered | Amount |
|---|---|---|---|
| VVJ Enterprise Pvt. Ltd. | Promoter | 26,86,851 | ₹24.99 Cr |
| Total | - | 26,86,851 | ₹24.99 Cr |
Jindal Supreme has an established presence in steel pipes and tubes manufacturing.
Key strengths include:
The company's product portfolio provides exposure to several infrastructure-related applications.
Jindal Supreme operates in the steel products industry.
Raw material prices and broader steel-market conditions can influence margins and profitability.
Its financial data also shows that FY26 PAT declined despite growth in total income.
The company had total borrowings of ₹119.87 crore at March 31, 2026.
This declined to ₹92.46 crore by June 30, 2026.
The IPO's ₹71 crore debt-repayment allocation could help reduce borrowings further.
Investors should consider these IPO risks along with the company's financial performance.
Jindal Supreme has an established business spanning steel pipes, tubes and infrastructure-related products, with more than five decades of operating history.
Its expansion into crash barriers and GI tubular poles provides additional product categories linked to infrastructure development.
Investors should consider:
The IPO valuation and the GMP of ₹27 currently indicate factors investors may want to evaluate, but GMP alone should not be used to assess the IPO.
Bigshare Services Pvt. Ltd. is the registrar to the Jindal Supreme IPO.
Investors can use the registrar's IPO status facility to check their allotment after the allotment process is completed.
The IPO allotment process is expected to be finalised on September 21, 2026.
Sarthi Capital Advisors Pvt. Ltd. is the book-running lead manager for the Jindal Supreme IPO.
The IPO lead manager is responsible for managing the public issue process.
The latest Jindal Supreme IPO GMP is ₹27, updated on September 14, 2026, at 2:32 PM.
Based on the ₹27 GMP and ₹93 upper price band, the estimated listing price is ₹120 per share.
The Jindal Supreme IPO lot size is 161 shares.
The minimum investment is ₹14,973 for one lot at the upper price band.
The Jindal Supreme IPO will open on September 16, 2026.
The IPO will close on September 18, 2026.
The allotment is expected to be finalised on September 21, 2026.
Jindal Supreme shares are scheduled to list on the BSE and NSE on September 23, 2026.
The IPO price band is ₹88 to ₹93 per share.
The total issue size is ₹124.88 crore, comprising a ₹99.89 crore fresh issue and a ₹24.99 crore OFS.
Bigshare Services Pvt. Ltd. is the registrar of the Jindal Supreme IPO.
The company proposes to use ₹71 crore towards repayment or prepayment of outstanding borrowings, with the balance intended for general corporate purposes.
Disclaimer: Jindal Supreme IPO GMP is based on unofficial grey-market activity and is indicative only. The estimated listing price and potential gains based on GMP are not guaranteed. Investors should independently evaluate the company's financials, valuation, business prospects and risks before making an investment decision.
Financial journalist specializing in market analysis, stock research, and investment trends. Dedicated to providing accurate, timely insights for informed decision-making.
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